Weave Communications (NYSE:WEAV) Reaches New 1-Year High - Time to Buy?

Shares of Weave Communications, Inc. (NYSE:WEAV - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $17.15 and last traded at $16.89, with a volume of 33355 shares. The stock had previously closed at $16.83.

Analyst Ratings Changes

Several analysts have recently commented on WEAV shares. The Goldman Sachs Group raised their price objective on shares of Weave Communications from $13.00 to $14.50 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Piper Sandler lifted their price target on shares of Weave Communications from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Finally, Loop Capital increased their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $16.50.

Weave Communications Stock Performance

The business's 50 day simple moving average is $15.78 and its two-hundred day simple moving average is $13.40. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09.

Insider Activity at Weave Communications

In related news, Director Blake G. Modersitzki sold 74,228 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $14.04, for a total value of $1,042,161.12. Following the transaction, the director now directly owns 286,320 shares of the company's stock, valued at approximately $4,019,932.80. The trade was a 20.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brett T. White sold 54,778 shares of Weave Communications stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $15.86, for a total transaction of $868,779.08. Following the completion of the sale, the chief executive officer now directly owns 1,928,364 shares in the company, valued at $30,583,853.04. This trade represents a 2.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,172,780 shares of company stock valued at $17,761,064. 36.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Weave Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its stake in shares of Weave Communications by 40.9% during the 3rd quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company's stock valued at $48,139,000 after buying an additional 1,091,028 shares in the last quarter. Pathway Capital Management LP lifted its position in shares of Weave Communications by 136.3% during the fourth quarter. Pathway Capital Management LP now owns 1,349,365 shares of the company's stock worth $21,482,000 after acquiring an additional 778,413 shares in the last quarter. State Street Corp boosted its holdings in shares of Weave Communications by 19.5% in the third quarter. State Street Corp now owns 950,683 shares of the company's stock worth $12,169,000 after acquiring an additional 155,054 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Weave Communications in the fourth quarter valued at $14,984,000. Finally, Geode Capital Management LLC raised its stake in shares of Weave Communications by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 883,207 shares of the company's stock valued at $11,308,000 after purchasing an additional 101,580 shares during the period. 86.83% of the stock is currently owned by institutional investors.

About Weave Communications

Weave Communications, Inc provides a customer experience and payments software platform in the United States and Canada. Its platform enables small and medium-sized healthcare businesses to maximize the value of their patient interactions and minimize the time and effort spent on manual or mundane tasks.